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🔵 MAXIMIZE Your Bitcoin & Crypto Profits This Bull Run – Cash Out Plan – PART B
● TOPICS: (The top questions I’m going to be answering)
00:00 – Intro
01:23 – You've got to factor in taxes
02:26 – Do I sell more than 50% of my portfolio or stop taking profits there? What if the price goes above my target peak price?
05:58 – Is $160k my final peak prediction?
06:13 – How to use the Colin Talks Crypto Bitcoin Bull Run Index to help pick the peak.
07:53 – Where will the next bear market bottom be?
08:29 – How to use the Colin Talks Crypto Bitcoin Bull Run Index to help pick the peak.
10:26 – Using stablecoins (USDC & DAI, maybe others).
12:00 – Earning interest with stablecoins using Compound Finanace, YCurve, Aave, Blockfi, Celsius and others.
12:42 – Risks associated with stablecoins.
14:36 – Stablecoin tax implications with passive income & interest.
15:34 – Stablecoin interest rates may change during bear market as the market dynamics change.
16:49 – Buying Gold with Bitcoin directly. Then later buying more Bitcoin with that gold quickly.
19:35 – Where will the next bear market bottom be?
19:56 – Strategy for rebuying back in.
21:37 – Dollar cost average in; Dollar cost average out
TOPIC #1. Taxes. Factor this in. It can be as low as 20% for long term trades and 37% for short term trades (under a year).
Two points regarding earning interest: Earned interest is taxable as income. And rewards are based on supply. Current interest rates won’t be the interest rates during a bear market. The dynamics will likely change. Currently we have 6% DAI, 12% USDT, 10% USDC. Regular cryptos (non-stablecoins) have very low returns (less 0.5%-3% in many cases). I expect these two categories to “flip” during bear market, as supply of retailer crypto will drop as no one will want to hold them through bear market, and stablecoin interest will drop down to 0.5%-3%.
TOPIC #7. Can convert bitcoin directly for gold on some sites. This eliminates the need for using crypto exchanges as middlemen before converting to gold. Might save on some fees, but be wary of bullion premiums still.
TOPIC #8. Now that we've sold, where will the bear market bottom be? I estimated $40k-$60k for our next bear market bottom.
The bottom line is you want your assets to be easily accessible and quick to convert back to crypto when the time comes.
TOPIC #9. Strategy for re-buying back in: dollar cost average. We are essentially dollar cost averaging OUT of the market toward the bull run top, and dollar cost averaging IN to the market toward the bear market low.
Disclaimer: This video is not financial or investment advice. Do not buy, sell or trade cryptocurrency, or make any financial decisions based on the content of this video. I am merely sharing what I have done and what I would do in various situations as an educational tool only.